Peso strengthens, stock market slumps

by Niña Myka Pauline Arceo - Ed Paolo Salting

May 09, 2023 12:29 am

THE peso gained but the stock market nearly fell into 6,500 territory on Monday with investors said to have taken profits ahead of the release of first-quarter growth data.

The currency strengthened by five centavos to close at P55.25 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) shed 84.92 points or 1.27 percent to end the day at 6,600.74.

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